GrowLife Establishes Lease Program to Drive Growth
October 14th, 2013
News, Top News
GrowLife, Inc. (OTCQB: PHOT), a diversified company operating in the legal cannabis industry including online and brick and mortar hydroponic stores, OEM grow equipment, commercial grow-op support, and media, has already developed a complete line-up of hydroponic growing equipment and is in the process of establishing a nationwide retail network to sell it.
But this week, the company announced another initiative, designed to enhance its sales by providing infrastructure and technology to licensed commercial growers. Under the terms of these agreements, the company will enable growers to spread their costs out over a five-year period in exchange for an exclusive relationship with its business.
Investors in the marijuana space, including companies like Medbox Inc. (OTC Markets: MDBX) or Medical Marijuana Inc. (OTC Markets: MJNA), may want to take a closer look at GrowLife given these developments. By providing the infrastructure and technology underpinning these operations, the company is effectively building its own network of growers.
Read the complete press release discussing the new program here:
GrowLife, Inc. (PHOT), a diversified company operating in the legal cannabis industry including online and brick and mortar hydroponic stores, OEM grow equipment, commercial grow-op support, and media, is pleased to announce that the Company is expanding its products and services to include the GrowLife Infrastructure Funding & Technology program (GIFT) for select customers in Colorado and Washington. The program is expected to include several other states before the end of the fiscal year.
“GrowLife’s engagement and role within the quickly evolving cannabis industry has expanded recently,” stated GrowLife, Inc. CEO Sterling Scott, “And we are responding to events through targeted offerings of an infrastructure leasing program for select customers. Our infrastructure program allows fully-licensed and compliant growers and dispensaries to spread the cost of infrastructure builds over and up to a 5 year period in exchange for a sole-source relationship, and is expected to drive increased business to our core business units. This new business division will be serviced and implemented from our specialized brick and mortar shops across the country.”
The GIFT program has been designed to allow GrowLife to create highly desirable margins while continuing to grow its market share and retail store footprint across the country. Additionally, as the GIFT program allows customers to conserve capital, it will also foster brand loyalty by allowing select GrowLife GIFT partners to receive Company warrants at a modest discount to market price. In turn, these GIFT customers will provide a portion of gross revenue from their GIFT enhanced operations for the period of their participation in the program.
“Our data and survey of the market in the post Department of Justice position change era has indicated a tremendous desire to build quickly and garner market share,” added Scott. “We firmly believe the industry is hungry for the right opportunities to expand rapidly and GrowLife is keen to assume the leadership position in supplying that demand.”
A GrowLife Investor Presentation can be viewed online at http://growlifeinc.com/growlife-presentations-october-2013/
To view GrowLife’s Cannabis.org Facebook page and TELL THE TRUTH movement please visit:https://www.facebook.com/tellthetruthfederalgovernment
About GrowLife, Inc.
GrowLife, Inc. (PHOT) (www.growlifeinc.com) is a company with core holdings in innovative technology-based products and services for the indoor gardening industry and specialty markets. These brands include Greners.com, the online hydroponics superstore (www.greners.com), Phototron, producer of hydroponic grow containers, which are designed to grow vegetables, herbs, flowers and fruits in any environment (www.phototron.com) as well as bricks and mortar retailers Urban Garden, Rocky Mountain Hydroponics and Evergreen Garden Center (www.rmgardener.com).
Cautionary Language Concerning Forward-Looking Statements
This release contains “forward-looking statements” that include information relating to future events and future financial and operating performance. The words “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for GrowLife’s products, the introduction of new products, the Company’s ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company’s liquidity and financial strength to support its growth, and other information that may be detailed from time-to-time in GrowLife’s filings with the United States Securities and Exchange Commission. Examples of such forward-looking statements in this release include statements regarding future sales, costs and market acceptance of products as well as regulatory actions at the State or Federal level. For a more detailed description of the risk factors and uncertainties affecting GrowLife, Inc. please refer to the Company’s Securities and Exchange Commission filings, which are available at www.sec.gov. GrowLife, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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